Joseph owner appoints advisers to examine potential sale

Joseph’s Japanese owner, Onward Kashiyama, has appointed City advisers to examine a potential sale of the 60-year-old British fashion brand.

The company is working with professional services firm PricewaterhouseCoopers (PwC) to hold discussions with prospective buyers, according to Sky News.

The process puts Joseph’s ownership under review 21 years after Onward Kashiyama acquired the label. The Japanese group bought Joseph in 2005 for £140 million.

A potential transaction remains at an exploratory stage, with PwC appointed to assess interest rather than oversee a confirmed sale. No prospective buyers, valuation expectations or timetable for the process have been disclosed.

The review comes as Joseph has operated under Onward Kashiyama throughout a period of major change in the premium fashion market, including the growth of direct-to-consumer ecommerce and increased pressure on multi-brand retail.

A potential sale would give a new owner control of an established British label with six decades of trading history. Any buyer would also need to assess the brand’s current operations and prospects across its retail, digital and wholesale channels.

For Onward Kashiyama, the review will gauge market demand for Joseph after 21 years of ownership. The £140 million paid in 2005 provides a reference point for the original investment, although no current valuation has been reported.

The appointment of PwC does not guarantee that a deal will be completed. The adviser will field approaches from potential buyers as Onward Kashiyama considers whether to proceed.

Founded in 1972 by Moroccan entrepreneur Joseph Ettedgui and his family, Joseph is a British fashion brand with a rich heritage spanning more than five decades. 

Last year, Joseph appointed two senior executives to support its next phase of growth and accelerate its global expansion.

Stephen Belfer joined the company as Vice President of Global Sales & Business Development, following a 12-year tenure at Marc Cain, where he was responsible for driving commercial growth initiatives and developing strategic partnerships across wholesale, retail, and e-commerce channels.

Brett Sugarman was appointed Vice President of Global Marketing, bringing more than 15 years of experience at Michael Kors, where she led a broad range of brand communications and consumer engagement strategies.